In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
PWC Capital's net current asset value per share for the quarter that ended in Jan. 2017 was C$0.00.
The historical rank and industry rank for PWC Capital's Net Current Asset Value or its related term are showing as below:
TSX:PWC.PR.B.PFD's Price-to-Net-Current-Asset-Value is not ranked *
in the Banks industry.
Industry Median: 4.11 * Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
PWC Capital Net Current Asset Value Historical Data
The historical data trend for PWC Capital's Net Current Asset Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of PWC Capital's Net Current Asset Value
For the Banks - Regional subindustry, PWC Capital's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
PWC Capital's Price-to-Net-Current-Asset-Value Distribution in the Banks Industry
For the Banks industry and Financial Services sector, PWC Capital's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where PWC Capital's Price-to-Net-Current-Asset-Value falls into.
PWC Capital Net Current Asset Value Calculation
PWC Capital's Net Current Asset Value (NCAV) per share for the fiscal year that ended in Oct. 2016 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
PWC Capital (TSX:PWC.PR.B.PFD) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
PWC Capital Net Current Asset Value Related Terms
Thank you for viewing the detailed overview of PWC Capital's Net Current Asset Value provided by GuruFocus.com. Please click on the following links to see related term pages.
PWC Capital (TSX:PWC.PR.B.PFD) Business Description
Pacific & Western Credit Corp is a holding company. The Company's wholly-owned and main subsidiary is Pacific & Western Bank of Canada, which provides financial solutions to clients in selected niche markets. The Bank receives deposits through a diversified network of deposit brokers and is a member institution of the Canada Deposit Insurance Corporation ('CDIC'). The Bank invests these funds in loans, leases, commercial mortgages, residential development mortgages, equity and debt of corporations, and government guaranteed securities, all of which are selected to provide lower returns on equity but with limited risk of default. The Bank has two main business activities, namely deposit services and lending services. Deposit services are located in Saskatoon, Saskatchewan. Deposits, consisting of guaranteed investment certificates and daily interest savings accounts, eligible for CDIC insurance, are raised through a diversified network of deposit brokers across Canada. The Bank's business is comprised of three core lending segments, being real estate lending, public sector lending and commercial lending. The Bank's real estate lending portfolio is organized into four categories, being land and construction loans, residential term mortgages, commercial term mortgages, and insured mortgages. The Bank provides land and construction loans, residential term mortgages, commercial term mortgages, and insured mortgages.
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